In our latest post, we offer tips for first time home sellers in Omaha and beyond. This spring is a fantastic time to sell a home, and there are some basic steps you can take to help ensure smooth process if this is your first experience selling your home!
Selling a home is an exciting prospect, especially in this amazing seller’s market of April 2021! With a low inventory of homes in many areas of the country, including here in Omaha, Nebraska, it really is a great time to sell a property. Subsequently buying an existing home or building a new home brings its own challenges in this market. But hopefully if you’re considering selling, you’ve got a good plan for where and when you’ll make a move. If you’ve never sold a house before (and honestly even if you have!), the process can be a little overwhelming. If this is the first time as a seller, and especially if you do want to try to get top dollar for your home, there can be a lot to do. But it’s helpful to keep the big picture in mind and know what to expect as you move forward. Below, we offer a few tips we hope will be helpful.
Get the House Ready
If you decide you want to list the property with an Omaha real estate agent, you’ll want to give some serious thought about how to best prepare the home to perform well in this market. Many homes are selling for great prices just as they are – without homeowners having to do much to make them more attractive. However, if you are aiming for top dollar, there are a few things you can do to make your property stand out above the others. Fresh paint is usually a huge plus and is a relief to buyers who are busy and simply don’t want to bother painting after they’ve purchased the home. Replacing old carpet with new flooring can also be a very desirable sales feature; replacing bathroom and kitchen hardware makes the home feel fresh and updated; and replacing older light fixtures can be fairly inexpensive but make a huge impact for marketing photographs and helping people recall quickly what makes your home unique. (“You know, it’s the one with the 3 bronze geometric fixtures over the island!”) Whether you plan to do it yourself, or hire a crew to do it for you, you’ll definitely want to thoroughly clean the house, and keep it that way for property showings.
Learn About the Current Market
When selling your house in Omaha or frankly anywhere, it’s imperative you know the current market conditions. Take some time to research trends and recent sales. Do what you can to determine what your property is worth and how this figure has changed over time. By having a realistic picture of what your property is worth, you’ll be able to negotiate with your buyer for the price you want. Do your best to be informed and learn as much as possible about current properties for sale and what’s going on in your local market.
Price the Property Correctly
Pricing your house too high may ultimately net less money. Overpriced properties typically sit on the MLS longer, may need to have price reductions, and can lose overall appeal to potential buyers. All of these elements can make buyers wonder what may be wrong with the home that it’s not under contract. Over time the house will likely fall lower in the search results, often dropping off buyer’s radars. Incorrectly pricing a property can be one of the biggest mistakes sellers make. Work with your agent to set the sales price. Do your own market research thoroughly if you’re selling it yourself. And keep in mind for a direct sale to Anna Buys Houses, you won’t have to worry about pricing because we do the market research on our end and aim to make a fair offer based on the home’s condition and the current market situation.
Consider Your Selling Options
There are several great options for selling a home in Omaha. It’s important that you analyze the different avenues for selling and factor in the time, costs, and benefits associated with each. Listings and For-sale-By-Owner avenues are fantastic for properties that need minimal work and don’t necessarily need to be sold quickly; these method can take a little time if inspections prompt repairs and if your buyer needs to be approved for a home loan. A direct sale to a professional home buyer can be an excellent choice for properties that need a lot of TLC (work!) or that may be burdened with liens or tax problems, or that need to be sold within a specific amount of time.
Understand the Costs and Budget for Them
If you choose to list, it’s important to know the costs associated with selling a home. Many sellers fail to factor in costs associated with deep cleaning, upgrading, or making repairs. As mentioned above, it can take a lot of work to get a property ready for the MLS. You may also need to factor in marketing costs (especially if you’re doing FSBO) and of course, the cost of your own time to make repairs, writing marketing copy, etc. As you may know, with an agent, you’ll need to factor in commissions and closing costs. With a sale to a professional home buyer like Anna Buys Houses, the offer may be slightly lower than you’d receive with a traditional listing, but we typically buy and cover all closing costs and don’t charge a commission or pass along any fees.
Work with Professionals and There are Many in the Omaha Area
No matter how you decide to sell your home, search out professionals who are knowledgeable, honest and passionate about what they do. If you list, a good agent will be a tremendous advocate for you, getting the best price possible on your behalf. If you do plan to bring in contractors to help with repairs or updates to your home, interview a few and if possible, try to go with one who has done good work for others you know. If you end up want to do a direct sale, Anna Buys Houses knows how to efficiently close, making the selling process simple and convenient. There is a lot to know when it comes to selling, but it really is a fun education. If we can be of any help to you during this process, please feel free to reach out.